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eMortgage, Part 2: A Promising Present

Posted by Harry Gardner on May 25, 2017 9:00:00 AM

 

eMortgage, Part 2: A Promising Present

 

In our previous blog post, we explored eMortgage’s complex past and how the convergence of multiple technological and legal developments enabled eMortgage to arrive at its present state. But where exactly is eMortgage today?


To refresh, eMortgage refers to the electronic completion of the entire mortgage documentation and closing process, including document generation, delivery, signatures, notarization, authentication, closing and validation.

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Topics: Technology

The Evolution of eMortgage, Part 1: A Short but Rich History

Posted by Harry Gardner on May 18, 2017 9:00:00 AM

The Evolution of eMortgage, Part 1: A Short but Rich HistoryIt all started with software.

 

The late ‘80s and early ‘90s marked the beginning of the development of mortgage technology. Computers had hit the mainstream nearly a decade before, and newly-founded tech companies were hard at work figuring out how they could develop solutions that would make the mortgage process more accurate, efficient and manageable.

 

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Topics: Technology

The Critical Importance of Execution: Identifying the Right Partners

Posted by Harry Gardner on May 11, 2017 9:00:00 AM

The Critical Importance of Execution: Identifying the Right Partners In our previous blog, we discussed executing in the modern mortgage business. It is important to identify the right doc prep solutions provider who is capable of getting the software implemented exactly right, by deadline.

 

Identifying the right -- and wrong -- partners

Unfortunately, too many lenders don’t find out they’re working with the wrong partner until it’s too late. To avoid the cost and frustration that comes with choosing a partner who can’t deliver, consider the following:

 

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Topics: Technology

The Critical Importance of Execution: Modern Mortgage Business

Posted by Harry Gardner on May 9, 2017 9:00:00 AM

The Critical Importance of Execution: Modern Mortgage BusinessLenders spend a lot of time and money selecting the partners and technologies to trust with their origination businesses. The stakes are high. From a compliance standpoint, vendor management is a significant concern. And then finding that a prospective partner who has made it all the way through the due diligence process doesn’t have what it takes to implement effectively can be very frustrating.

 

It’s easy to find horror stories about implementations gone wrong. Technology is complex, and it can be very challenging to connect disparate systems to achieve a common goal. And yet, that’s exactly what doc prep solution providers are called upon to do every day.

 

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Topics: Technology

The Three Trends that Dominated MBA Tech 2017

Posted by Shannon Barrow on Apr 7, 2017 9:00:00 AM

The Three Trends that Dominated MBA Tech 2017Digital Mortgages, Customer Experience Innovations and Mobile Platforms Are Changing the Face of Mortgage Lending

 

The mortgage industry recently gathered in Chicago for the Mortgage Bankers Association’s 2017 Technology in Mortgage Conference. This annual event brings together the brightest and most innovative companies in the industry as they wrestle with the issues that face mortgage lenders across the country.

 

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Topics: Technology

eSign Done Right: Solex™

Posted by Harry Gardner on Mar 10, 2017 9:00:00 AM

eSign Done Right: SolexLast year, we took a close look at the state of eSign technology in the mortgage industry. While there are a number of eSign solutions on the market, we still saw gaps in the capabilities our lenders demanded. As more lenders move toward electronic closings, we knew the industry needed a tool that any borrower could use without the need for extensive customer support or proprietary software. As a result, Solex is a top-to-bottom redesign and modernization of Docutech’s existing eSign platform – the foundation that allows us to take eSign performance to the next level.

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Topics: Technology

Two Key Qualities Your Doc Prep Partner Should Possess

Posted by Harry Gardner on Feb 23, 2017 9:00:00 AM

Regulatory changes have sent many lenders back to the market in search of technology services that can help them remain compliant. Because of the nature of many of the government’s changes, document preparation has become a critical component of every lender’s operation.

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Topics: Technology

What’s Next for eNotarization

Posted by Docutech on Dec 6, 2016 9:00:00 AM

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Recently, our own Harry Gardner penned an article for the October issue of Mortgage Banking magazine entitled, “The E-Notarization Challenge: 50 States of Grey.” As Gardner pointed out there, getting all 50 states to fully support electronic notarization is a serious challenge facing the industry. We need to overcome it if we hope to have end-to-end electronic mortgages.

 

We caught up with Gardner recently and asked him for an update on the status of eNotarization and what has changed.

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Topics: Technology

Where is Your eClosing Platform?

Posted by Harry Gardner on Oct 6, 2016 9:00:00 AM

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The mortgage industry continues to progress slowly toward the Holy Grail of a completely paperless process. As different technology providers enter the eMortgage space, a variety of partnership arrangements have evolved in order to piece together the various components needed for a fully electronic mortgage solution. Let’s explore those components, the different ways they can be assembled, and the possible advantages and downsides.

 

First, you need the documents themselves, of course. Mortgage disclosure and closing documents are typically generated either by the Loan Origination System (LOS) software, or by a third-party doc provider like Docutech. LOS-generated documents typically don’t cost extra for the lender, but may involve tradeoffs in terms of compliance quality, custom doc management, and responsiveness – and the LOS vendor may not rep and warrant their legal compliance the way a doc provider would.

 

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Topics: Technology

Does Your Mortgage Loan Doc Prep Solution Support Your Mortgage Process Improvement Goals?

Posted by Tony Inskeep on Oct 4, 2016 9:00:00 AM

Does Your Mortgage Loan Doc Prep Solution Support Your Mortgage Process Improvement Goals?

Based on today’s heavily regulated mortgage industry, financial institutions are re-evaluating their key goals and strategies to ensure they are not only meeting the latest compliance guidelines, but also doing so in the most cost effective way possible. While each institution is unique and shares different goals, the overarching theme for mortgage improvement across the industry points to increased efficiency and improving customer experience as the leading goals institutions are working toward.

 

For the mortgage industry, increasing efficiency points to a variety of areas within the institution, most importantly the overall loan process. In 2016, it is more expensive than ever before to manage the full lifecycle of a loan due in large part to changing regulations. In Mortgage Daily, the Stratmor Group reported the cost per loan was up 150% for retail lending, 166% on consumer-direct originations, 202% for broker lending and 82% on correspondent lending. The goal is simple: streamline the loan process to decrease the time and money needed to manage today’s mortgage procedures. But how?

 

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Topics: Technology

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